Archive for month: March, 2021

 

Walgreens Q2 sales +4.6% “The United States segment had second quarter sales of $27.3 billion, an increase of 0.4 percent from the year-ago quarter…Comparable sales increased 2.0 percent from the year-ago quarter reflecting a 4.5 percent increase in comparable pharmacy sales and a 3.5 percent decline in comparable retail sales.” Press release

 

Lululemon quarterly comp sales +21% at Fox Business. Read more

 

Chewy Q4 net sales +51% Press release

 

Macy’s CEO says company is already benefiting from vaccinations and stimulus checks at CNBC. “Macy’s CEO Jeff Gennette said business from loyal Macy’s customers is already up by 10% from the company’s fiscal fourth quarter. “That’s clearly the vaccine starting to take root,” he told CNBC’s Jim Cramer in a “Mad Money” interview.” Read more

 

PVH Corp. Q4 revenue down 20% “A 16% decrease…in the Tommy Hilfiger business…A 17% decrease…in the Calvin Klein business…” Press release

 

Deliveroo dives 30% as London debut of the decade turns torrid at Reuters. “Investors are turning away from the work-at-home play and putting their money into the economic recovery play. Deliveroo got caught in the middle of a huge rotation. It was the last IPO of the old COVID world,” he said.” Read more

 

Walmart to hold virtual shareholder events again this year – meeting will be held on Wednesday, June 2, 2021 Press release

 

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Corrugated Boxes Have Never Been in More Demand—or More Expensive at The Wall Street Journal. “U.S. producers in 2020 churned out nearly 407 billion square feet of corrugated product, from dot.com delivery boxes to watermelon crates, according to the Fibre Box Association. The year-over-year rise was 3.4%, equivalent to about 477 square miles of additional corrugated board.” WSJ subs.

 

Albertsons and Google Partner “Planned innovations under this partnership include: Shoppable maps with dynamic hyperlocal features, AI-powered conversational commerce and predictive grocery list building.” Press release

 

Target can’t erase IP suit over autistic boy’s artwork Law 360 subs.

 

Amazon acquires Indian retail startup Perpule at TechCrunch. “Amazon has acquired a startup in India that is helping offline stores go online, the e-commerce group’s latest attempt to make inroads in the world’s second most populous nation where brick and mortar continue to drive more than 95% of sales.” Read more

 

Dollarama Inc missed analysts’ sales estimates for the crucial holiday quarter on Wednesday at Financial Post. “Net sales rose to $1.10 billion in the fourth quarter ended Jan. 31, from $1.07 billion a year earlier, below Refinitiv IBES estimates of $1.13 billion.” Read more

 

Amazon is reportedly working on custom networking chips at The Verge. Read more

 

Tipsheet Extra

Higher commodity costs lead to price hikes from Kimberly-Clark and others 

America’s imports are stuck on ships floating just off Los Angeles

Guess reportedly pulls ‘G-Logo’ tote bag after fans say it look too similar to an indie label

Digital gym-on-a-wall startup Tonal raises $250 million at $1.6. billion valuation

Feb. US home contract signings tumble, now lag year-ago pace

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ThredUp shares jump nearly 43% in first day of trading at CNBC. “Based in Oakland, Calif., ThredUp is an online resale marketplace where consumers can buy and sell secondhand clothing, shoes and accessories. The website features about 2.4 million listings from over 35,000 brands at any given time.” Read more

 

Amazon started a Twitter war because Jeff Bezos was pissed at Recode. “Amazon has long been at odds with Senators Bernie Sanders and Elizabeth Warren over their criticisms…Recode has learned that Amazon CEO Jeff Bezos expressed dissatisfaction in recent weeks that company officials weren’t more aggressive in how they pushed back against criticisms of the company…” Read more

 

Dick’s to open new experiential store at The Motley Fool/USA Today. “Dick’s just opened its first “experiential” store in Rochester, New York. The store will be called Dick’s House of Sports, and it will focus on giving customers a hands-on shopping experience. The store will include an outdoor field for sporting events, a rock-climbing wall, and indoor wellness spaces. It’ll also give consumers an opportunity to seek advice from fitness experts…” Read more

 

Amazon-backed Deliveroo cuts IPO target range after investor backlash at CNBC. “…it will now sell shares for £3.90 ($5.40) to £4.10 each instead of £3.90 to £4.60 each. As a result, Deliveroo’s market cap will be between £7.6 billion and £7.8 billion, instead of between £7.6 billion and £8.8 billion.” Read more

 

Prathibha Rajashekhar, SVP of sourcing and private brands at Sam’s Club, speaks at Greater Bentonville Area Chamber of Commerce event at Talk Business. “We’re looking to grow, but we don’t measure growth the way you may think,” Rajashekhar said. “Success for Member’s Mark will be measured in a way to ensure we’re constantly surprising and delighting members with quality products at an incredible value. We know that if we get that right, we will continue to be a strong asset to the overall Sam’s Club business.” Read more

 

**Find the future of the candy and snacks industries at the Sweets & Snacks Expo’s Innovation Avenue! Innovation Avenue delivers the leading brands of tomorrow for retailers truly looking for something cutting-edge to wow their shoppers. Indianapolis, June 23-25 2021. Most innovative new products 2019 & 2018 | Register now

 

The Story of Plug Power – Amazon’s Fuel-Cell Supplier – Explains This Crazy Market at Wall Street Journal. “In return for spending $600 million on fuel cells and other kit to meet pandemic demand, (Amazon) gained the right to buy Plug Power shares for approximately $900 million less than they were worth when vested. Plug only took a paper charge related to the cost of issuing the stock of $438 million, but that was still enough to more than wipe out revenue from all sources last year.” WSJ subs.

 

Investors flock to European e-commerce start-ups hoping to take on Amazon at CNBC. “While Amazon is huge in the U.S. and many other countries, it isn’t as well established in some corners of Europe and large swathes of Asia. In fact, the tech giant only has dedicated online stores for around 17 countries worldwide.” Read more

 

Stitch Fix relied on flexibility to ride out the pandemic. CEO Katrina Lake says those changes are here to stay at Fortune. “What advice would you offer about how to be a young woman in this sort of public company CEO job, whether to Whitney or the next person who comes along? The fact that there’s not a lot of women doing this right now—you almost get licensed to lead in your own way…” Q&A

 

Lil Nas ‘Satan’ shoes stir new political controversy at The Hill. “The footwear includes a bronze pentagram, an inverted cross and a drop of human blood from one of the members of the MSCHF team, a spokesperson told CNN. The blood is included in the shoe’s bubble sole, which has 60 cubic centimeters of red ink.” Read more

 

Anchorage Costco customers say ravens are stealing their groceries in the parking lot at Fox Business. “Matt Lewallen told Anchorage Daily News that two ravens took a short rib from his cart after he said he walked only a few feet away from it…“They’re very fat, so I think they’ve got a whole system there,” he told the newspaper…Another woman said one tried to make off with a mini-melon.” Read more

 

Tipsheet Extra

U.S. church membership falls below majority for first time

Amazon 10-year deal with NFL means restrictions for sellers

Meat sales in grocery stores have risen by 20% from 2019 to 2020

H-E-B readies to rule Dallas-Fort Worth

Here’s what BJ’s Wholesale Club paid for 9 acres outside of Pittsburgh

Biden mulls giving farmers billions to fight climate change

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Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.

 

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Police arrest man carrying 5 guns, body armor into Georgia Publix at The Hill. “After officers saw Marley leaving the bathroom, they quickly apprehended him. They found two long guns, and three pistols, the newspaper reports, all of which were concealed. Authorities have not yet determined why Marley was carrying so many weapons. Marley has been charged with reckless conduct.” Read more

 

RH Q4 net revenues +22% Press release

 

Covid-19 Vaccinations, Tests Give Boost to Kroger’s Health Ambitions at Wall Street Journal. “Covid has taught us that pharmacy is always really important and will be important as we go forward,” Rodney McMullen, Kroger’s chief executive, said in an interview… The company plans to offer more nutrition counseling and sell curated boxes of healthy foods that are tailored to medical conditions. It is also discussing potential partnerships with hospitals.” WSJ subs.

 

Shoe Carnival Q4 comp sales +6.4% Press release

 

Lowe’s looks beyond gardening and grills this spring at CNBC. “Bill Boltz, executive vice president of merchandising, said…it makes sense for the retailer to sell trampolines and towels, along with lawn mowers, patio sets and bathroom shelving. “We’re not going to enter into the grocery space, but we think there’s an opportunity to do some things here and push it a little bit where we have a right to play,” he said in a CNBC interview.” Read more

 

…Lowe’s plans ‘SpringFest’ event with free curbside ‘Garden-to-Go’ projects for families at USA Today. “Spring just feels so metaphoric this year. Sort of this coming out of our winter, literally and figuratively,” (Marisa) Thalberg said in an interview with USA TODAY. “We’re already seeing that interest starting to really build quickly as the weather is starting to get warmer in different parts of the country.” Read more

 

IKEA Taps Linus Karlsson as Creative Chief Across Marketing and Product at Wall Street Journal. “Product development and communications are overlapping more and more,” Mr. Karlsson said. “Collaboration in all forms is definitely a way forward. It’s not good for things to be siloed.” Some of the shift can be attributed to consumers’ growing expressions of opinions on social media, as well as their interactions with marketers online, according to Mr. Karlsson.” WSJ subs.

 

Facebook, Amazon edge out other corporate giants in lobby spending at Seattle Times. “Facebook and Amazon.com became the largest corporate lobbying spenders in Washington, D.C., the last two years…Facebook increased spending 56% to $19.7 million between 2018 and 2020, while Amazon spent 30% more to reach $18.7 million.” Read more

 

H&M has been removed by major e-commerce and service apps in China at TechCrunch. “…after a Communist Party organization barraged it for a statement expressing “deep concern” over allegations of forced labor in Xinjiang’s cotton industry. On Thursday morning, a search for “H&M” yielded zero results on e-commerce platforms including Alibaba’s Taobao, JD.com…” Read more

 

Sobeys’ parent company teams up with manufacturers to draft code of conduct for embattled grocery sector at Financial Post. “I don’t love more legislation, more regulation — I don’t,” Empire chief executive Michael Medline said in an interview. “I just don’t see any other way to improve relationships in this industry, all the way from farmers to customers.” Empire co-wrote the code of conduct with Food, Health and Consumer Products of Canada (FHCP) — an improbable alliance, considering FHCP has for years been the loudest and fiercest critic of how the big grocers treat their suppliers.” Read more

 

Beauty and bargain retail could be the biggest winners in 2021, Wells Fargo predicts at CNBC. “Wells Fargo’s retail team recently polled 1,000 consumers in the United States to get a better sense of their post-pandemic shopping behaviors. When asked which products they are most likely to buy first, post-pandemic, respondents most frequently selected makeup, at 40%. That even surpassed “going-out apparel,” which was chosen by 37%.” Read more

 

7-Eleven is opening a taco drive-thru at CNN. “Typically, Laredo Taco locations can be found in 7-Eleven stores themselves. This is the first drive-thru for the taco chain, as well as the first drive-thru at a corporate-owned 7-Eleven store. Customers can order Slurpees in addition to items from the Laredo Taco menu…” Read more

 

Tipsheet Extra

Q&A w/Brenda Lord, VP, private brands and quality assurance, CVS Health

Acme, Safeway add Bowery indoor-grown greens

Lidl cheers recognition from New York beer competition

New York Yankees team up with Amazon to offer 21 streaming games

Jay Leno apologizes for decades of jokes about Asians

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Ten killed in mass shooting at Boulder, Colorado King Soopers grocery store at Reuters. “Moonshadow said she tried to attend to a victim she saw lying on the pavement just outside the store, but her son pulled her away, telling her, ‘We have to go.’” The woman broke down in sobs recounting their ordeal, adding, “I couldn’t help anybody.” Read more

 

…Boulder supermarket shooter ID’d as 21-year-old man at AP. “The suspect was undergoing treatment at a hospital and was expected to be booked into the county jail later Tuesday, said Boulder County District Attorney Michael Dougherty. Investigators don’t know yet why the suspect opened fire inside the grocery store, Dougherty said.” Read more

 

U.S. Postal Service Overhaul Calls for Higher Prices, Slower Mail and More Packages at Wall Street Journal. “In tandem with higher prices, the Postal Service will look to change the service standard for first-class mail, allowing it to take up to five days to arrive instead of three…Messrs. DeJoy and Bloom said they were committed to continuing mail delivery at six days a week…” WSJ subs.

 

Amazon workers go on 24-hour strike in Italy over labor conditions at CNBC. “Trade unions FILT-CGIL, FIT-CISL and Uiltrasporti said it’s the first strike to affect Amazon’s entire logistics operations in Italy. An Amazon spokesperson told CNBC the company and its delivery partners “already offer what these groups are asking for.” Read more

 

Sales of new homes plunged 18.2% in February at AP News. “Severe winter storms also had an impact on the sale of existing homes, which declined 6.5% in February to a seasonally adjusted annual rate of 6.22 million units.” Read more

 

From pet food to video games: inside Ryan Cohen’s GameStop obsession at Reuters. “After almost four months of phone calls and emails to GameStop Corp complaining about the slow shipping of an order, New Jersey teacher Steven Titus received a late night call in early March…On the line was Ryan Cohen, the billionaire co-founder and former chief executive of online pet supplies retailer Chewy who is now leading GameStop’s push into e-commerce.” Read more

 

…GameStop loses second senior exec as shakeup deepens at Reuters. “GameStop Corp said on Tuesday its chief customer officer Frank Hamlin will resign from the company on March 31, pointing to a deepening of changes driven by its new biggest shareholder, Chewy.com co-founder Ryan Cohen.” Read more

 

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Amazon has added 3,700 new sellers a day this year at Business Insider. Read more

 

Airport Retail Shops Pin Hopes on Bump in Travel at Wall Street Journal. “Dufry operates more than 2,300 shops in airports, cruise liners and other tourist destinations around the world. It owns the Hudson Group, which runs the eponymous convenience shops in U.S. airports and temporarily closed more than 700 of its more than 1,000 stores during the pandemic. As of early March, it has reopened 635 of them.” WSJ subs.

 

Purplle, an e-commerce platform for beauty products in India, has raised $45 million in a new financing round at TechCrunch. Read more

 

DoorDash will let you order at-home COVID-19 testing kits delivered to your door at The Verge. “The initiative is part of DoorDash’s DashMart convenience store platform, a new type of virtual marketplace the company launched last summer as the pandemic was in full swing.” Read more

 

Casey’s General Stores to acquire 49 stores throughout Oklahoma from Circle K Stores in an all-cash transaction for $39 million Press release

 

SoftBank-backed delivery start-up goPuff valued at $8.9 billion in new funding round, more than double from five months ago at CNBC. “GoPuff, based in Philadelphia, was launched in 2013 by two college students at Drexel University. The company aims to take on traditional convenience stores by offering a range of household essentials like over-the-counter medicines and cleaning supplies to snack foods and alcohol.” Read more

 

SpartanNash Chairman Dennis Eidson Announces Retirement Press release

 

Sally Beauty Holdings Appoints Kim McIntosh as Group Vice President, Controller and Chief Accounting Officer Press release

 

Amazon threatened warehouse workers organizing amid COVID-19 pandemic, says US labor board complaint at The Verge. “The NLRB investigation found that warehouse managers may have violated US labor law on four accounts, Motherboard reports. During the pandemic, they allegedly instructed employees not to organize without first notifying them, interrogated workers about the walkout, and threatened to discipline those who spoke to colleagues about the protests.” Read more

 

Tipsheet Extra

Throwback picture of Elon Musk and Jeff Bezos’s meeting goes viral

Hudson’s Bay creates Canadian challenge to Amazon, Walmart, eBay

IKEA’s iconic catalog goes digital complete with an audio version

Reckitt Benckiser tidies name, rebrands as simply Reckitt

Toys R Us plans new stores

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Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.

 

Subscribe to Eye on Retail Tipsheet here

 

Contact us: Put your product or service in front of the most powerful retail execs in the world, send advertising inquiries to info@eyeonretail.net

 

Website: eyeonretail.net